From the Wizard of Rambus :<\/p>\n
Since the first of September the PM complex began what I\u2019ve been suggesting is a bigger trading range vs anything we\u2019ve seen so far off the May low. The main thing to understand about consolidation patterns is that they are basically a Veg O Matic designed to chop investors to piece if they don\u2019t understand what is taking place. After an important impulse leg up the bulls become exhausted at some point and the bears can sense blood and try to push the price action lower. A great battle ensues where the bulls and bears fight it out for dominance with one side winning for awhile and then the other side. These are battles in the major war or dominate trend. In a bull market the bulls will eventually when the battles after wearing out of both the bulls and bears alike.<\/p>\n
You may recall this 2 1\/2 year daily chart for the HGU.TO 2 X long the Canadian gold miners eft, we looked at during the breakout which I said it had the most symmetrical 18 month H&S bottom of all the PM stock indexes. After basically reaching the price action it is now tried and needs a rest. We should see some type of consolidation pattern start forming with the possible first reversal point in place. We should also see whatever consolidation pattern develops take longer than anything we\u2019ve seen so far, most likely months not weeks. The game has changed from an impulse move to a consolidation phase<\/p>\n
From the Wizard of Rambus : Since the first of September the PM complex began what I\u2019ve been suggesting is a bigger trading range vs anything we\u2019ve seen so far off the May low. The main thing to understand about … Continue reading ![\"\"](\"https:\/\/goldtadise.com\/wp-content\/uploads\/2019\/09\/hgu.png\")
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